Black Friday is just around the corner, and lots of us have been saving our pennies to splurge on this day of bargains for a while now. However, with the countless sales and temptatious deals on offer this Black Friday, it can be far too easy to get blindsided and spend all your hard-earned cash on deals that aren’t even generous. Express.co.uk chatted to a money-saving expert at online discounts platform WeThrift, Nick Drewe, to find out how to avoid wasting money on Black Friday.
In 2020, an investigation by Which? found that 85 percent of Black Friday product prices weren’t the cheapest they’ve ever been.
That’s why it’s so important consumers thoroughly research deals before signing up to them or splashing out on an item they could’ve got cheaper elsewhere.
Black Friday is the day spendthrifts are at most at risk of blindly paying out a huge amount of money on items they don’t need or want all because it seems like a good deal.
Luckily for you, We-Thrift’s money-saving expert Nick Drewe has revealed his top six tips to spending wisely on Black Friday, Cyber Monday and pretty much any deal in the lead-up to Christmas.
Compare the different guarantees offered
When you’re shopping for the latest household appliances and gadgets, you want to be confident that your product is going to last.
Don’t buy something just because it’s cheap and cheerful, look at the different guarantees offered by different suppliers, Nick warned.
He said: “For example, Amazon may offer a shorter lower warranty on a vacuum cleaner compared to Currys.
“While Amazon may advertise the product at a lower price, maybe consider whether it’s better value for money buying the vacuum cleaner from Currys, as opposed to buying a new hoover when your cheaper hoover packs in after its warranty has expired.”
Be watchful of sales terminology
Companies will be sneaky and things aren’t always as they seem.
The term ‘price promises’ tends to get overused during a massive sale such as Black Friday, but it’s important to be wary of sales terminology such as this, the expert said.
Nick explained: “For example, John Lewis does not price match another retailer unless it has a store presence, so it’s important to do your own research and compare prices.
“Similarly, it’s important to be critical of products that are advertised with ‘was’ prices, e.g. ‘was £50’.
“Research by Which? reveals that retailers sometimes use old RRPs (recommended retail prices) as ‘was’ prices, meaning they reflect the value of the item when it was first released and not its current value.
“Also, Amazon displays every single price reduction as a discount – even if the price drop in as little as 1p.”
Understand the consumer rights act
Not happy with the product you bought? The Consumer Rights Act 2015 has got your back.
According to the regulations of the act, you have 14 days to return your item for a full refund.
However, it’s always best to check the returns policy of your chosen retailer.
Nick added: “Likewise if you are dealing with a faulty item, you are entitled to a full refund for faulty items up to 30 days from purchase.
“You do have longer than this if you’re happy to get a replacement or the item fixed; with shops having a requirement of six months to repair or replace faulty products.
“However, if the fault of the item is pointed out at the time of purchase, you cannot take it back.”